Second annual CarMax Used Car Shopping Report reveals popular add-on
and upgrade features
RICHMOND, Va.--(BUSINESS WIRE)--
The Nissan Altima was the No. 1 choice for used car shoppers at CarMax
for the second year in a row, according to the company’s 2015 Used
Car Shopping Report published today. Data from the nation’s
largest used car retailer also indicates domestic models are gaining
favor: Five of the 10 most purchased vehicles from CarMax stores were
made by American manufacturers, across all age groups.
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The Nissan Altima was the No. 1 choice for used car shoppers at CarMax for the second year in a row. (Photo: Business Wire)
Results are based on more than 550,000 vehicle sales at CarMax’s more
than 140 stores nationwide between March 2014 and February 2015.
New to this year’s Used Car Shopping Report is insight into desired
add-on and upgrade features. The most popular add-on purchased by CarMax
buyers was leather interior, based on CarMax sales data. According to a
recent survey of more than 1,000 U.S. adults conducted by Ipsos Public
Affairs on behalf of CarMax, there is also interest in convenience and
entertainment or luxury upgrades, such as navigation systems and
satellite radio.
“At CarMax, knowing our customers’ wants and needs is critical to
providing them with the best shopping experience possible,” said Cliff
Wood, executive vice president of stores for CarMax. “For the second
year in a row, Americans have chosen mid-sized sedans as their vehicle
of choice. When it comes to add-ons and upgrades, features that keep
consumers connected and comfortable continue to be popular.”
Malibu Passes Camry for No. 2 Spot
While the Nissan Altima remained CarMax’s top selling car, the Chevrolet
Malibu sped into the No. 2 spot, passing the Toyota Camry, which fell to
No. 4. Honda had two cars in the top five, the Accord (No. 3) and the
Civic (No. 5).
Ford continues to perform well, occupying four of the top 20 spots
overall. Ford vehicles especially appeal to Gen Xers, who purchased
Fords more than any other age group, earning three spots in that
generation’s top 10 vehicles. Ford also scored with Millennials, though
their model preferences differed. Older generations most often purchased
Explorers, Escapes, and F150s, while Millennials purchased the Fusion
and Focus.
The majority of domestic vehicles moved up in rank above foreign cars,
compared to last year. Gen Xers purchased cars from American
manufacturers more than any other age group – of the top 10 vehicles
purchased, six were from domestic makers.
Add-on Features Vary by Age and Region
While leather interiors rank at the top of add-on features among overall
CarMax buyers, the popularity of other features purchased at CarMax
locations varies in different parts of the country. Remote start
technology, which held the No. 1 overall spot last year, still sells the
most in the colder climates of the Midwest and Northeast. Leather
interiors are more in demand in warmer climates of the West and South.
Wish List If Upgrade Features Were Suddenly More Affordable
CarMax also commissioned a survey with Ipsos Public Affairs that
revealed consumers’ interest in vehicle convenience and entertainment or
luxury upgrades.
When asked if purchasing a used car were to make convenience upgrade
features suddenly more affordable, just under a third of respondents (30
percent) said that they would be most interested in a navigation system,
while one in five would opt for remote start (21 percent). Park assist
is more popular among Millennials than Baby Boomers (14 percent vs. 9
percent).
When it comes to entertainment or luxury upgrades, satellite radio and
stereo systems were preferred by one in five (19 percent and 18 percent,
respectively). Leather interior and sunroof followed in rank, with
Millennials being more likely than Baby Boomers to opt for a sunroof.
Nearly one in five Gen Xers (19 percent) were among those most likely to
choose a back seat/headrest video system for their used car.
Self-Cleaning Car Tops Americans “Greatest Wish” List
When looking beyond the upgrade features that are available now when
purchasing a used car, nearly a quarter said that a self-cleaning car
(23 percent) would top their “greatest wish” list.
An infographic
highlighting the results and a video
showcasing the top five vehicles and add-on features is available.
About CarMax
CarMax, a member of the Fortune 500 and the S&P 500,
and one of the Fortune 100 Best Companies to Work For®, for
11 consecutive years, is the nation’s largest retailer of used vehicles.
Headquartered in Richmond, Va., CarMax currently operates 147 used car
stores in 75 markets. The CarMax consumer offer features low, no-haggle
prices, a broad selection of CarMax Quality Certified used vehicles and
superior customer service. During the twelve months ended February 28,
2015, the company retailed 582,282 used vehicles and sold 376,186
wholesale vehicles at our in-store auctions. For more information,
access the CarMax website at www.carmax.com.
About the Ipsos Survey
These are findings from a survey conducted May 7-8, 2015 by Ipsos Public
Affairs. For the survey, a sample of 1,004 U.S. adults age 18 and over
was interviewed online. A factum of survey results is available at http://ipsos-na.com/news-polls/pressrelease.aspx?id=6858.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150610005625/en/
Source: CarMax